NCC Bank recently signed two participation agreements with Bangladesh Bank to strengthen financing support for Cottage, Micro, Small and Medium Enterprises (CMSMEs) across the country.
Under one agreement, NCC Bank will provide term loans and working capital financing to entrepreneurs from various industrial clusters under Bangladesh Bank's Tk. 3,000 Crore Cluster Finance Refinance Scheme, says a press release.
Under the other agreement, NCC Bank will participate in Bangladesh Bank's Tk. 1,500 crore Financial Sector Fund for the Development of Micro, Small and Medium Enterprises (FSFDMSME). Loans under both schemes will carry an interest rate of 7 percent.
The agreements were signed at a ceremony held at the head office of Bangladesh Bank in the presence of Nurun Nahar, Deputy Governor of Bangladesh Bank. M. Shamsul Arefin, Managing Director of NCC Bank, and Nawshad Mustafa, Director of the SME and Special Program Department of Bangladesh Bank, signed the agreement on behalf of their respective organizations.
Also present at the event were Husne Ara Shikha, Executive Director of Bangladesh Bank; Md. Habibur Rahman, Deputy Managing Director and Sharif Mohammad Mahsin, SVP and Head of the SME Division of NCC Bank, along with other senior officials from both organizations.
